Who's going to pay this $60 million? Students? Taxpayers?
The idea is to penalize them their cut of the Big 10 pie, advertising from various sources, TV revenues, etc. Since the department still has to operate, the whack on their budget will definitely hurt. I'm not sure how you finance such a penalty...one big check? forfeiture of other income streams?
I read that they was no "specific NCAA rule" that was broken. I guess the NCAA can make up rules after the fact. I don't see how they can punish all of the players that fought for those 100+ wins, because a few administrators are sick. All of the good that has come from that school will forever be tainted.
This is always a point of contention when the NCAA hands out penalties. The idea is to punish the people involved, but sadly those kids out there are unfairly punished too. The school, football program, and the administrators all "profitted" by the performance on the field. The players, presumably, were unaware of the evil being perpetrated and suffer the collateral damage.